Tag Archives: Wentworth Property Company

DTZ announced May 21 it has begun to market West 80, a ±379,635 SF, for-lease, speculative development by Wentworth Property Company (WPC). Located on the southeast corner of 80th Avenue and Buckeye Road in Phoenix, WPC plans to break ground on the industrial distribution center before year-end with delivery in 2016.

DTZ Executive Managing Directors Andy Markham, SIOR, and Mike Haenel, Senior Vice President Will Strong and Associate Phil Haenel have the leasing assignment for the West Valley project.

“We are seeing steady demand by tenants looking for 70,000 to 150,000 square feet of state-of-the-art, cross-dock distribution facilities,” said Markham. “West 80’s design and flexibility, with the ability to divide the building among several tenants and three potential office locations, shows WPC is clearly ahead of the market in understanding tenant requirements.”

Arizona has traditionally seen more mid-sized industrial tenants but there are fewer options for new space in that size range in the West Valley.

According to Tim Chester, managing director for WPC, “At West 80 we are planning the next generation spec development with all of the state-of-the-art features that tenants want, including 36’ clear height. West 80 will be the only opportunity in Metropolitan Phoenix for a tenant looking for space in the 70,000-380,000 square foot range to find this clear height.”

In addition to the 36-foot clear height, plans for West 80 include cross-dock configuration with 112 dock high doors and four ramps to grade level, 60’ speed bays, column spacing 56’ by 57’6”, T-5 warehouse lighting and the ability for HVAC to suit the tenant. Located on ±23 acres, the property has four points of ingress and egress with security gates, including a light at 79th Avenue and Buckeye Road, concrete truck courts and 211 parking spaces.

Chester added, “With over 2 million square feet of industrial space currently under development, WPC has the opportunity to interact with a considerable amount of current clients and potential tenants. With West 80, we are listening to them and developing the next generation of lasting, institutional product in a tightening submarket that is currently under served to meet the tenant demand.”

Sundt Construction has been selected as the construction manager at risk for Tucson Airport’s terminal upgrade beginning in late 2015. The construction budget is between $18M and $23M.

Chandler gets its wings

Chandler approved a 50-year ground lease with WingSpan Aviation Center at Chandler Municipal Airport. The first phase of the project includes an 80KSF hangar building that will be equipped with office spaces. Total build-out is expected to take five years for 250KSF of development.

Rule of Three

The modernization of Sky Harbor Terminal 3 began in March. By next summer, larger security checkpoints and airline ticket counter spaces will be complete. Future phases include redesigned concourses and additional retail. There are three architects on the project: DWL, SmithGroupJJR and Corgan.

Full house

One of the largest speculative office projects in Phoenix has been more than 35 percent pre-leased. As Airport I-10’s 600KSF phase 1 nears completion, DLS Worldwide, DHL and Pilot Freight Services signed leases at the Wentworth Property Company and Clarion Partners project. JLL handled the leasing.

Work it out

Plexus Worldwide — a health supplement seller — broke ground on its 70KSF national headquarters at Pima Center on March 30. This will bring the company’s total square-footage in the area to 100KSF. In the last four years, Plexus has grown from a company with an annual income of $1M to $300M.

Big stretch

The CanaMex Interstate 11 freeway study corridor has been extended from Wickenburg to Nogales. This extension on I-11 brings the potential trade route between Canada and Mexico one step closer to reality.

Lap of luxury

The P.B. Bell Companies has begun construction on Velaire at Aspera, an apartment community within the 75-acre Aspera mixed-use development in Glendale. Velaire at Aspera, expected to open in 2017, will offer 286 luxury apartment homes in a resort-like setting, with amenities that include an electric-car charging station and agility dog park. MT Builders, Inc. will serve as the general contractor on the project. Todd & Associates, Inc. is the architect.

Order Up

Site work has begun on a 17-acre parcel of land at the NWC of Houghton and Old Vail roads in southeastern Tucson. The area, dubbed Las Plazas at Old Vail, is slated to become a new retail and restaurant hub. CBRE’s Nancy McClure and Michael Laatsch have the marketing assignment.

Just as Airport I-10’s 600KSF Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. “They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth. “They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

Wentworth Property Company (WPC) and Northwood Investors purchased a ±234,446 square foot office project at 1665 W. Alameda Drive. The partners had the vision to see the unique potential in the property and purchased it for $13.83M with plans to spend $20 to $25 million on redeveloping the project. They selected Gensler as the architect, Kennedy Design Build, LLC as the general contractor and Cassidy Turley as the leasing agent.

“This property was the perfect vehicle for us to come in and reimagine it as an open, creative office environment where we can create an interconnection between indoor and outdoor environments,” said Jim Wentworth, Jr., Principal. “Even the most conservative companies want this type of office space because they understand how the work environment plays a major role in attracting and retaining employees, productivity and synergy within their company.”

The team plans to start the redevelopment of the 1665 Alameda project this year with availability by mid-2015. “There is enormous demand in this submarket for unique office space for large tenants,” said Cassidy Turley’s Jeff Wentworth. “This property gives us the opportunity to deliver innovative, flexible office space perfectly designed to function for tenants from 30,000 to 235,000 square feet. It provides 16 to 20’ ceiling heights, 7/1,000 SF parking and because of the connection between the indoor and outdoor spaces there is the opportunity for functional space not under roof.”

The single-story existing 1665 Alameda building was constructed in 1986 and has been used by multiple tenants until the recent purchase of the property. The challenge was to significantly transform the building image and regain its stature as a viable Class A office environment. WPC and the Gensler design team saw the opportunity to transform the site and building to develop an amenity–rich, creative workplace environment that embraces its freeway location with direct visibility from I-10.

“Renovating existing building assets is an exercise in sustainability allowing us to extend their life and usage.” says Beth Harmon-Vaughan, Managing Principal of Gensler’s local Phoenix office. “The 1665 project is in a great location and provided a strong foundation for impactful design upgrades.”

Specific concept strategies focused on heightening the building image, creating a unified appearance, developing personalized entry elements for tenants, adding shared amenities to the site, enhancing daylighting opportunities, and creating indoor/outdoor connections. The existing U-shaped footprint allowed for a functional courtyard space in-between the building volume to connect the interior with the exterior and create usable year-round spaces. The existing mansard roof and visually low façade will be eliminated and a new façade proposed.

Architectural entry elements create a new frontal projection to the street, a fluid architectural language and significant visual markers for branding and tenant signage. Proposed building materials include integral colored cementitious panels, aluminum composite naturally finished metal panels, steel and glass elements, and textural gabion wall features integrating the new façade with the courtyard concept in a seamless fashion. New building amenities include bocce ball, café dining, fitness center, outdoor shaded seating, water features, and a unique rain garden concept that uses sustainable and indigenous landscape.

“Creating a fresh identity and amenity-rich creative office environment in Tempe will help ensure attraction and retention of top tenants in the market.” says Harmon-Vaughan.

WPC partnered with Northwood Investors and purchased Discovery Business Campus (DBC) in November 2011. DPC is a 136 acre campus with 800,000 square feet of existing office space and up to 1.6 million square feet of additional, entitled Class A office, hotel and retail development in Tempe. WPC is currently developing a 237,000 square foot build-to-suit facility for Shutterfly, Inc. at DBC, slated for completion in April 2015.

Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have secured a benchmark 63,000-square-foot tenant lease commitment this week at Airport I-10 Business Park—one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history.

“It is rare in today’s Phoenix industrial market to secure lease commitments on a spec property that’s still under construction—before tenants can physically see and touch the space,” said Harlan. “The fact that Anixter has signed on at Airport I-10 at this early stage speaks volumes. It is a welcome post-recession event and a strong statement about the caliber of the project and our industrial market as a whole.”

“We are extremely pleased to welcome Anixter,” said Wentworth Property Company Principal James R. Wentworth. “A commitment by such a large, well respected company confirms Airport I-10 Business Park as the preferred airport location for corporate users. It also underscores the ongoing need for new, high quality industrial product in the Airport submarket. This area continues to rank among Phoenix’s top industrial locations but has an extremely limited supply of land.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is slated for completion in fall 2014. For more insight from Harlan, visit http://bit.ly/1ps2sgj.

According to JLL research, while there is limited inventory of modern industrial space within the Sky Harbor Airport submarket, demand continues to climb. Of the 40 million square feet of industrial space in the submarket, only 218,052 square feet was built in 2009 or later. Yet in 2013, the Airport submarket still represented almost 30 percent of the more than 3.5 million total square feet of industrial space absorbed Valley-wide.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

Anixter International, Inc. is a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts. It operates approximately 210 warehouses in more than 250 cities and more than 50 countries.

A piece of the Valley’s technology history came down last Saturday to make room for a business campus targeting high-tech and innovative companies.

The old Motorola radar tower at Elliott Road and the Loop 101 was demolished. Rising in its place will be the Discovery Business Campus, a 136-acre mixed-use office park designed for today’s companies with an eye to the future. View a video of the future site.

“A piece of the tower will be preserved on the campus to honor the legacy of the scientists and innovators who fundamentally changed how we share information,” said Jim Wentworth, Jr., principal of Wentworth Property Company. Wentworth is developing the site where Motorola Government Electronics Division employees tested and refined military communication technology. Freescale Semiconductor now occupies the Motorola facility.

“The Discovery Business Campus will attract the next generation of companies working to make their marks,” Wentworth said. “We’re designing the campus to be appealing not only to the companies, but also the community around us. The campus will be bike-commuter friendly with direct access from the canal path and our neighbors will be welcome to enjoy the future lake. An interior ring road can host charity walks and other community events.”

In addition to Freescale, the site also has three existing buildings with room for 1.6 MSF for Class A office, flex office, hospitality and retail development. Wentworth and its partner, Northwood Investors purchased the property from Freescale Semiconductor for $53.7M in 2011.

The tower was built in the mid-1970s to test Motorola’s radar technologies. Large military communications trucks would come to the site for system and equipment testing. Motorola stopped using the tower as a testing site in the mid-1980s. Since then the tower has been used by a Motorola amateur radio club, a Freescale HAM radio club and as a T-Mobile cell phone tower.